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Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
 The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, had a negative impact on chartering activity. As a result freight rates came under further pressure, with iron ore fixtures posting a continued decline and overall spot chartering activity also facing decreases.
According to the latest weekly report issued by Commodore Research, “iron ore fixtures remain relatively low due to the ongoing restrictions on electricity allocation to Chinese steel mills. Overall chartering activity also came under pressure last week due to holidays in Asia. 19 iron ore fixtures were reported last week, a decrease from 24 iron ore fixtures reported during the previous week. 15 of last week’s iron ore fixtures were for capesize vessels, an increase from 12 capesize vessels chartered to haul ore during the previous week. Global coal and grain demand have remained moderate but have not been robust enough to stem the fall in spot freight rates” the report said.
As a result of this negative trend, Capesize rates are currently averaging $29,002/day, a decrease of $4,810 (-14%) from a week ago. Panamax rates are now averaging $21,840/day, a decrease of $1,685 (-7%). Supramax rates are averaging $19,644/day, a decrease of $1,397 (-7%). Handysize rates are averaging $15,666/day, a decrease of $298 (-2%).
At the same time period chartering activity also remained subdued, with 92 spot trip fixtures (28 less than the previous week) and 16 period fixtures (1 less than the previous week) were reported last week. Commodore said that none of the period deals were for a year or more. “Sentiment remains somewhat negative due to the going electricity restrictions to steel mills in China. Last week marked the first time in eleven weeks that no period deals for a year or more were reported. At that time, sentiment was very negative due to spot freight rates approaching 2010 lows.
The report mentioned that “market players remain spooked by the recent decision by the Chinese government to reduce electricity allocation to Chinese steel mills - but so far Chinese steel production has reportedly only decreased by 2%. The electricity restrictions will continue to represent a significant threat to near-term dry bulk freight rates, however, and must continue to be monitored extremely closely. Several analysts have forecast that Chinese steel output will decline by as much as 10% due to the ongoing electricity restrictions.
Based on August’s 51.64 million tons of crude steel production, this would put post-restriction monthly output at approximately 46.5mt, an amount not seen since May 2009. We continue to anticipate that Chinese steel demand will exceed most expectations. Chinese stockpiles have remained steady in recent weeks and there is little reason to believe that immediate steel demand has significantly decreased. We expect Chinese steel production to range between 48 to 49mt of crude steel in September and October.
The Chinese government cannot afford to have steel prices surge due to an artificial restraint on supply. Inflation is already a growing concern in China. The National Development and Reform Commission has also criticized the electricity allocation restrictions” concluded Commodore.
In terms of the secondhand and demolition activity of the past week, shipbroker Golden Destiny said that in total there were 39 sales reported. The activity was high at both the S&P and the newbuilding market with 32 & 34 orders reported in total respectively. “The secondhand market has been marked with a 100% positive yearly change with 32 vessels reported to have changed hands this week equalling a total amount of money invested more than US$796,800,000, since in 9 transactions the price hasn’t been disclosed. In the demolition market, 7 vessels have been headed to the scrap yards of total deadweight 218,513 tons, while in 2009 14 vessels reported for scrap indicating a negative yearly change of 100%. In the newbuilding market, 34 vessels reported to have been ordered equalling a total deadweight around 1,683,000 tons. The dry sector has held the largest share of newbuilding contracts, equalling a total deadweight of 1,076,000 tons, with orders from kamsarmaxes, panamaxes & supramaxes being the most popular vessel types. The Greek presence has been noticed this week only in the secondhand market with 6 transactions, two in the in the post panamax bulkcarrier sector and four in the small panamax container sector. The cumulative amount invested by Greek investors in the secondhand market can be calculated only by the bulkcarrier acquisitions around $ 82,000,000, since the price of the Container enbloc transaction has not been disclosed” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
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- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- White Energy Company Limited
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
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